Walgreen to Close 76 Stores in the Second Half of 2014; Cisco to Invest $1B into a Cloud Service

Walgreen Co. closed up 3.28% on nearly 13 million shares traded on Tuesday. The company reported earnings per share, excluding some items, of 91c for the second quarter of fiscal 2014, compared with analysts' consensus estimate of 93c. The retailer's Q2 revenue was $19.6B, in-line with the consensus estimate. Walgreens' same-store sales rose 4.3% last quarter. The company announced that it plans to close 76 drugstores during the second half of this fiscal year.

Shares of Cisco Systems closed up 3.57% on about 53 million shares traded on Tuesday after the Company announced that it would invest $1 billion into a cloud service. The investment would be made over the next two years to build the world’s largest network facilitating cloud computing. The network will be based on the OpenStack IaaS infrastructure, to handle a significant amount of work on any virtual machine manager.

Shares of FNMA closed down nearly 3% on Tuesday with almost 16.5 million shares traded. The modest drop may have been influenced BY Redwood Trust Inc. the biggest issuer of U.S. home-loan securities without government backing last year, ending a four-month absence from the market with a $341.9 million transaction.

Shares of SPLI closed down a modest 2% on Tuesday with nearly 15 million shares traded. The stock had one of the biggest volume boosts in the OTC market. Earlier in the month the company had announced that its Board of Directors had passed a resolution cancelling the previously announced 30:1 reverse split of its common stock, as per the 14C Information Statement filed with the Securities and Exchange Commission on February 11, 2014, and accordingly will notify all appropriate regulatory authorities that the reverse is withdrawn.

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